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Kerala-headquartered consumer durables manufacturer V-Guard Industries Ltd is betting on internet of things (IoT) to boost its long-term prospects, a top company executive was quoted as saying by Bloomberg.

“IoT is the next big step for our company as smartphone users are expected to rise every passing day and more people are becoming tech-savvy,” V-Guard managing director Mithun Chittilappilly was quoted as saying.

The Internet of things (IoT) is the network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and network connectivity which enables these objects to connect and exchange data.